Guideline Value for Victory Avenue

Victory Avenue guideline value

The current guideline value of Victory Avenue is Rs 2,700 per sq.ft, effective from the 2024 revision. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Victory Avenue has changed

The guideline value for Victory Avenue has undergone several revisions over the years. In 2002, the value was Rs 118 per sq.ft, which increased to Rs 150 per sq.ft in 2003, marking a 27% rise. By 2007, the value surged to Rs 400 per sq.ft, reflecting a significant increase of 167%. The 2012 revision saw the value rise to Rs 2,500 per sq.ft, a remarkable increase of 525% from the previous revision. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which represents a 61% increase from 2017.

It is important to note that there is no figure available for Victory Avenue in the 2023 revision. Overall, from 2002 to 2024, the guideline value has increased by 2,188%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. Victory Avenue's 2024 guideline value of Rs 2,700 per sq.ft is above this median.

• Victoria Nagar: Rs 1,600 per sq.ft (2024)
• Vignesh Nagar: Rs 1,600 per sq.ft (2024)
• Vijaya Lakshmi Avenue: Rs 2,700 per sq.ft (2024)
• Vijaya Lakshmi Nagar: Rs 2,400 per sq.ft (2024)
• VGN Stafford: Rs 2,700 per sq.ft (2024)
• Vinakayar Street(J.B.nagar): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Victory Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Victory Avenue?

The Sub Registrar Office that covers Victory Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thirumullaivoyal

The guideline value is a critical factor when buying or selling property in Thirumullaivoyal. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation and legal purposes.

When a buyer decides to purchase a property, the guideline value will be used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications associated with the transaction.

Frequently asked questions

What is the current guideline value of Victory Avenue?

The current guideline value of Victory Avenue is Rs 2,700 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 118 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 2,188% over the years.

What are the stamp duty and registration fees for property in Victory Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Victory Avenue?

The Ambattur Sub Registrar Office handles registrations for Victory Avenue, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the significance of the guideline value when buying property?

The guideline value is used to determine the minimum registration value of a property, which is essential for calculating stamp duty and registration fees during a property transaction.